Trade Flashcards
What is import?
Goods that a country buy from another country.
What is Export?
Goods that a country sells to another country.
What are Resources?
Things we use to meet our needs.
What are Trade Barriers?
Rules that restrict trade in a way that has an advantage for the importing country and a disadvantage for the exporting country.
What are Secondary Products?
Goods that are made by processing raw materials, also called manufactured goods.
What are Manufactured Goods?
Things that are made by processing raw materials, also called secondary products.
What is Unfair Trade?
Trade in which some people involved are not treated equally or in a reasonable way.
What is a Sweatshop?
A factory where workers work long hours for very little money.
What are Services?
Things that people with skills do for other people.
What is Profit?
The difference between what goods cost to be processed or bought and what they are sold for.
What does it mean to Exploit a person?
To take unfair advantage of them.
What is Barter.
Trade in which goods are exchanged directly for other goods.
What are Primary Products?
Things that come directly from farming, mining, fishing or forestry .
We consider something valuable if…….
It has value.
What is trade?
The exchange of goods and services.
